Neither inflation nor a global pandemic can stop the gig economy, it seems. In fact, we're Uber-ing and Airbnb-ing more than ever in 2022, defying predictions that the sharing economy would collapse in the era of Covid. Here's the deal: It's the summer of sharing ... and side hustling. Got a thing that you own? There's probably a market for people who'll pay to borrow it. Your house, car, your boat, even your swimming pool can become a lucrative asset if you're w...

That uncertainty is a big part of the problem for Europe's economy. See here:Fears of energy supply disruptions have pushed benchmark gas prices up by about 85% since the invasion of Ukraine, according to the Intercontinental Exchange.On Wednesday, prices rose 5% to as the deadline for the pipeline's reopening inched closer.Like the United States and other developed economies, Europe is dealing with soaring inflation. And political upheaval. And climate change. And a discernible shi...

In the complaint, MetaX alleges that in negotiations following Facebook's name change, the tech giant asserted that the two companies provide"drastically different goods and services," calling itself a "social technology company." * * Still, the lawsuit points to recent activations by Facebook-turned-Meta at SXSW and Coachella that MetaX alleges are "identical" to events that have been part of its core business for years. MetaX in its lawsuit said it "can no longer provide services and p...

In early March, after two ultra-fast delivery startups shut down in New York City in a single week, a self-proclaimed pioneer in the space appeared to see an opportunity for some media attention. Getir, a Turkish startup founded in 2015, had recently raised $768 million in funding valuing it at $11.8 billion, "cementing its position as a decacorn" even in the face of a "volatile" market, according to a representative for the company at the time. The representative suggested a reporter discuss...

Indeed, much of the decline in stock prices this year is the result of investors anticipating higher interest rates. Higher rates reduce the present value of future corporate profits, from which stocks ultimately derive their worth. In other words, higher rates mean the profits that businesses are expected to earn in the future are worth less today — and thus stock prices decline. This helps explain why previously high-flying technology stocks, such as Meta and Amazon, have suffered among the...

The stock touched a low below 5 francs in mid-July, and its market capitalization has fallen below 14 billion Swiss francs, Refinitiv data showed. The shares were little changed Wednesday. * Credit Suisse "will need time to solve its issues and regain the trust of all stakeholders over the next years," analyst Andreas Venditti at Vontobel wrote in a client note. He said the investment bank review was the right focus for Koerner. On Wednesday, the bank reported a 1.59 billion Swiss franc ($1.6...

SaaS companies provide web-based applications that take care of everything from how secure the software is to how well it performs. Some of the world's most well-known SaaS companies include Zoom (ZM), SAP Concur and Salesforce (CRM), the American behemoth that owns workplace messaging app Slack. * India's software-as-a-service industry could be worth $1 trillion in value by 2030 and create nearly half a million new jobs, according to a recent report compiled by consulting firm McKi...

The last week of July came with an overwhelming confluence of economic data, earnings reports, Federal Reserve announcements and spending deals in Congress. The impact of these past seven days will reverberate for the next several weeks around the abandoned halls of Wall Street and Washington DC as politicos and investors retreat to the Hamptons or Martha's Vineyard or wherever they summer. * Are we in a recession? It's hard to say, but hopefully by September the knowledge we gleane...

Delta Air Lines will buy 100 Boeing 737 MAX 10 jets worth about $13.5 billion at list prices and has options to buy another 30, the US carrier said on Monday. Reuters reported in March that Delta was edging toward an order for 100 MAX 10 planes and reported last week that Airbus was in talks for Delta to expand an existing order of A220 planes. Delta, which made the announcement at the Farnborough Airshow, said it would start taking MAX 10 deliveries in 2025. Delta previously was the only maj...

The data shows that people are really falling behind, said Jason Furman, an economics professor at Harvard University and former chair of the Council of Economic Advisers in the Obama administration. "And they're falling behind, not because wage growth is slowing, but because price growth is so high," Furman said. "And that's a worrisome sign for the future." * The super-tight labor market during the Covid-19 pandemic has forced employers to increase their compensation to fill open ...

On Twitter, Glassdoor senior economist Daniel Zhao called the disconnect between the rising number of people newly filing for unemployment and the almost static number of ongoing claims "weird." Federal Reserve Governor Christopher Waller called the disparity between growing employment and shrinking output "odd," and the divergence of income and output data "a puzzle" in a recent webinar. * Even Federal Reserve Chair Jerome Powell sounded somewhat baffled in a central banker economic forum in...

Chipotle permanently closed a restaurant in Augusta, Maine that filed to form a union last month. "We have been unable to adequately staff this remote restaurant with crew and continue to be plagued with excessive call-outs and lack of availability from existing staff," Laurie Schalow, chief corporate affairs officer at Chipotle (CMG), said in a statement Tuesday, adding that it's been even harder to find managers to lead the restaurant. "Because of these ongoing staffing challenges, the...